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2 3 4 5 6 7 8 Winter Prep
Money Talks
Q&A: OSU-OKC
Upward Bound
OCAP Conference
Frugal Football Fun
The Truth about
Payday Loans
On Our Mind
Dating on a Dime
At Your Service
Fun Financial Apps
Savvy Savings
Partner News
Calendar
Program
September/October 2012
Your Bottom Line
OklahomaMoneyMatters.org
800.970.OKMM
405.234.4253
Like ‘OklahomaMoneyMatters’ on Facebook
Follow ‘OKMoneyMatters’ on Twitter
Budgeting for Baby
According to the U.S. Department of Agriculture, it costs a middle-income family $250,000 to raise a child from birth to age 17. That’s a pretty hefty number and if you’ve ever priced daycare or walked into a baby gear store, it’s easy to understand why. In the hustle and bustle of preparing for your bundle of joy, it can be easy to go overboard. So how do new parents know what’s really worth the cost when it comes to bringing home baby? Check out some of the common financial mistakes new parents make and steps to avoid them.
Buying into the hype. The baby product industry wants to you to believe that you have to have it all, and you must have it right now. In reality, your little one probably doesn’t need a bassinet, a jogging
stroller, an activity gym and an entire designer wardrobe. For the most part infants are pretty easy to please; healthy food, warm clothes and a safe place to sleep are enough for now.
Instead of becoming overwhelmed and buying everything on a store’s must-have list, talk to some parents to see what items they couldn’t live without. After you’ve gotten some honest feedback, take a look at your situation, your priorities and what you want for your little one. You may come to realize that instead of a fancy changing table, the floor or couch will work just as well.
Buying brand new. Many new parents want everything their baby touches to be brand new, but purchasing gently used
items is a great way to save money. Babies grow incredibly fast and unfortunately, most gear isn’t designed to grow with them. So where does all the good stuff go once junior has outgrown it? Take advantage of hand-me-downs, garage sales, consignment shops and thrift stores for gently used items like bouncers, swings, toys, clothes and bedding. Remember, some things should be purchased brand new, like car seats, mattresses, pacifiers and thermometers. Saving money is good, but safety and hygiene are better!
Buying too much or not enough. Some items, like diapers, are good to buy in bulk. The more you purchase at a time, the cheaper the overall price tag. Unfortunately, the
cont. on page 2

2 3 4 5 6 7 8 Winter Prep
Money Talks
Q&A: OSU-OKC
Upward Bound
OCAP Conference
Frugal Football Fun
The Truth about
Payday Loans
On Our Mind
Dating on a Dime
At Your Service
Fun Financial Apps
Savvy Savings
Partner News
Calendar
Program
September/October 2012
Your Bottom Line
OklahomaMoneyMatters.org
800.970.OKMM
405.234.4253
Like ‘OklahomaMoneyMatters’ on Facebook
Follow ‘OKMoneyMatters’ on Twitter
Budgeting for Baby
According to the U.S. Department of Agriculture, it costs a middle-income family $250,000 to raise a child from birth to age 17. That’s a pretty hefty number and if you’ve ever priced daycare or walked into a baby gear store, it’s easy to understand why. In the hustle and bustle of preparing for your bundle of joy, it can be easy to go overboard. So how do new parents know what’s really worth the cost when it comes to bringing home baby? Check out some of the common financial mistakes new parents make and steps to avoid them.
Buying into the hype. The baby product industry wants to you to believe that you have to have it all, and you must have it right now. In reality, your little one probably doesn’t need a bassinet, a jogging
stroller, an activity gym and an entire designer wardrobe. For the most part infants are pretty easy to please; healthy food, warm clothes and a safe place to sleep are enough for now.
Instead of becoming overwhelmed and buying everything on a store’s must-have list, talk to some parents to see what items they couldn’t live without. After you’ve gotten some honest feedback, take a look at your situation, your priorities and what you want for your little one. You may come to realize that instead of a fancy changing table, the floor or couch will work just as well.
Buying brand new. Many new parents want everything their baby touches to be brand new, but purchasing gently used
items is a great way to save money. Babies grow incredibly fast and unfortunately, most gear isn’t designed to grow with them. So where does all the good stuff go once junior has outgrown it? Take advantage of hand-me-downs, garage sales, consignment shops and thrift stores for gently used items like bouncers, swings, toys, clothes and bedding. Remember, some things should be purchased brand new, like car seats, mattresses, pacifiers and thermometers. Saving money is good, but safety and hygiene are better!
Buying too much or not enough. Some items, like diapers, are good to buy in bulk. The more you purchase at a time, the cheaper the overall price tag. Unfortunately, the
cont. on page 2